14 December 2022
The Senate on Tuesday resolved to debate the recent cash withdrawal limit policy of the Central Bank of Nigeria (CBN) on its floor.
Senate President Ahmad Lawan stated this at plenary, following a Point of Order raised by the senator representing Ekiti North Senatorial District, Olubunmi Adetunmbi.
The senator had drawn the attention of his colleagues to the absence of the Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, Uba Sani, from the Upper Chamber.
Adetunmbi, who is also a member of the committee, said Sani had arranged to present the report of the screening conducted on two CBN Deputy Governor-nominees – Mrs. Aishat Ahmad, and Mr. Edward Lametek Adamu – yesterday to the Senate.
President Muhammadu Buhari recently nominated the two deputy governor-nominees of the apex bank were recently nominated for reappointment for their second and final tenure.
Mrs. Ahmad, who is the CBN Deputy Governor on Financial System Stability, had explained details of the policy to the panel during her screening session last Friday.
Details of the explanation given by the CBN chief were to be presented for debate alongside the screening report yesterday But Adetunmbi said the debate could not take place again because the panel chairman, who is the All Progressives Congress (APC) governorship flag bearer in Kaduna State, was in his state for the party’s Northwest zonal presidential campaign rally.
But Adetunmbi’s explanation did not go down well with the senator representing Bauchi North Senatorial District, Adamu Bulkachuwa.
The senator said the fact that the panel didn’t submit its report should not stop the Senate’s proposed debate on the CBN’s cash withdrawal limit policy.
He said: “We should not allow this thing to be swept under the carpet. It is a very serious issue and Nigerians are waiting to see what the Senate will do, like the House of Representatives, which has asked the governor of the Central Bank to stay action on this. Leaving it till tomorrow is giving him another excuse. I urge this Senate to discuss this thing today.”
Senate President Ahmad Lawan ruled Bulkachuwa out of order and insisted that the matter be deferred till today for the requisite debate.
Lawan said: “I don’t think it is fair to say we are sweeping the matter under the carpet. To sweep something under the carpet, in my understanding, means to avoid it.”
“Nobody here suggests, by action or inaction, that we are avoiding discussion on this matter.
“I think it is appropriate to give the chairman of the committee the opportunity to come and present his report personally. Senator Adetumbi is a member of the Banking Committee.
“The Vice Chairman of the committee, who is the Chief Whip, is here and they are all in attendance.
“They have something to tell us.
The chairman wants to present the report himself and when he does that, we will be better informed and we can take appropriate action…”
